The HCM City Department of Industry and Trade will organise the Consumption Stimulus Fair from July 2 to 5 this year to revive demand that has slumped due to the COVID-19 pandemic. (Source: VNA) HCM City (VNS/VNA) – Ho Chi Minh City’s Department of Industry and Trade will forthe first time in several years allow businesses to offer promotions of up to100 percent in June and July to boost demand that has taken a hit from the COVID-19 pandemic.
Forthe last few years, businesses have not been allowed to offer one for one andother similar promotions except during national holidays like the Lunar NewYear, Independence Day and Reunification Day.
Itwill also allow free participation for businesses at the 2020 Consumption StimulusFair from July 2 to 5 in ThuDuc District.
Therewill be supermarkets, malls and electronics retailers like Thien Hoa and Nguyen Kim participating in the programme,according to the department.
Itexpects the event to boost economic recovery and normalise commercialactivities in the city.
Thefair, financed by firms and the Government’s trade promotion funds, will have500 booths showcasing consumer products, agricultural goods, foods, and exportitems.
Therewill be promotional and discount programmes to stimulate consumption and helpfirms liquidate their stocks.
Le Thi Thanh Tam, deputy director of Sai Gon Food Company, said her company wouldoffer promotions of up to 50 percent and free trials of goods.
Le Viet Thanh, director of K&K Fashion, saidwhile major annual promotional programmes such as Black Friday and forReunification Day (April 30) always attract a lot of customers, many shops markup prices before them or sell old, counterfeit and poor-quality goods productsthat disappoint users.
Thedepartment therefore needs to strictly control the quality of products to besold at the fair and take severe action against businesses that violate buyers’trust, he said.
Thepromotions need to be promoted on different channels, especially social networksand digital media, to reach more young people, he said.
Thecity should get banks and financial companies to offer low-interest loans atthe fair for high-value of goods such as air conditioners to stimulate demand,he added./.
VNA
